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A Game-Changing Opportunity for FinTech & HealthTech Startups

MEDICI is proud to collaborate with IBM and Village Capital in sharing the IBM Hyper Protect Accelerator program with Inner Circle members and the FinTech ecosystem in general.

If you are a HealthTech or a FinTech startup involved in handling personally identifiable information (PII) such as medical, financial, or insurance records; and if you believe in managing data protection through technology instead of security policies; and are looking for a platform and resources to help keep your customer data secure, you have found the right program—IBM Hyper Protect Accelerator.

Healthcare services and financial services are highly regulated industries, and they come with their own set of demands and consequences in terms of data security. And, the exposure of sensitive user records can have severe financial and reputational implications. Did you know that: 

  • the average total cost of a data breach is $3.92 million? 
  • Healthcare is the most expensive industry with the cost of data breach at $6.45 million?
  • about 25,575 records are compromised in the average data breach? 
  • 48% of breaches are caused by malicious or criminal acts? 

That’s why IBM, as a technology leader, looks at this growing cybersecurity risk as an opportunity and focuses on these highly regulated industries because IBM believes that this program sets itself apart from other programs out there with similar technology credit and mentorship components. This two-year accelerator program is unique in its offering in several ways. 

Imagine having a team of professionals at your side from a company like IBM, with over 130 years of technology innovation. Not only does this free you up to focus on business growth, but it also empowers you to navigate through these uncertain times. IBM’s team of experts will help you through each step of your technology roadmap – whether it is onboarding into the cloud or harnessing the power of IBM Cloud Hyper Protect Services that runs on the IBM LinuxONE platform, which ensures that data is always encrypted, whether at rest or in transit. 

IBM will also support and hand-hold you with a variety of other cloud solutions that include artificial intelligence, machine learning, blockchain, and other cloud services within the IBM Cloud. You may access these cloud solutions by using your monthly technology credit of up to $120,000 over a one year. 

Another key value that this program offers is the one-on-one engagement model rather than a “help desk” style, one-to-many engagement model where there is little or no scope for personalization. Once you are selected for this program, you will be assigned experts from IBM and Village Capital’s network of mentors who will help you with a tailored approach to your technology roadmap and business enablement. The virtual aspect will pave the way for a more diverse cohort that will be geographically diverse and include one year of business mentorship and two years of technical mentorship with a path to go to market with IBM together, hand in hand to its network of customers, partners, and collaborators. 

IBM and its collaborators will select 30 early-stage FinTech and HealthTech startups for the two-year program. IBM's network of collaborators include Village Capital, Female Founders Alliance, MEDICI, Society of Physician Entrepreneurs, Queen City Fintech, and Healthtech Women

The second annual IBM Hyper Protect Accelerator application process has already been kicked off. Here are the important dates to remember: 

  • Application open: April 16, 2020 (live now)
  • Application close: June 15, 2020, 5:00 PM PST (time converter for reference)
  • Cohort announcement: September 15, 2020

If you are planning to apply for this program, we suggest you have your Pitch Deck ready. The deck must contain a problem statement, mission, vision, value proposition, target market (or audience), one-year business plan, stage of the product (idea, POC, MVP, GA), team bios, business model, and what kind of support you would like from IBM. 

IBM has already supported 15 startups in this program, up from 8 selected in the 2019 cohort, offering a strong community of HealthTech and FinTech entrepreneurs for the 2020 applicants. 

Not sure about joining? Want to pop in for a chat with IBM’s Chief Penguin? Melissa Sassi holds “office hours” every Wednesday at 8:00 AM EST. Register here: http://ibm.biz/hpa-officehours

“I look forward to receiving your application and learning more about your startup! We have a wonderful first cohort where I know every Founder and CTO personally and have spent time in almost every country where our startups operate. I look forward to joining you as we use the power of IBM’s network to empower YOU to scale your startup with our expert team of architects, engineers, and AI & blockchain specialists. We are incredibly excited to partner with Village Capital on the business enablement aspect of the mentorship, where they will open up their database of 1,000+ business mentors to help you build and scale while keeping your most sensitive data secure.” – Melissa Sassi, Chief Penguin at IBM Hyper Protect Accelerator

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